Is xm legit

Web & desktop trading platforms: XM traders have access to the globally-recognised metatrader 4 and metatrader 5 trading platforms, accessible on PC, mac and web.

Actual forex bonuses

XM Review 2019 | Is XM a Scam or Legit Forex Broker, is xm legit.

Mobile trading platforms: XM offers traders the ability to trade on the metatrader 4 and metatrader 5 mobile trading apps for ios and android operating systems, as well as tablets. The broker also offers the XM trading app which allows users to manage their MT4 and MT4 accounts. Trader education
XM offers an impressive suite of unique educational products include forex seminars, educational videos, webinars, platform tutorials and live daily interactive education rooms.

XM review 2019 | is XM a scam or legit forex broker?

Average broker rating

Rating breakdown

XM overview

XM is a cysec, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on forex, stocks, commodities, indices, metals and energies on the globally-recognised trading platforms metatrader 4 and metatrader 5 for PC, mac, web, ios and android systems.

#	broker's features	XM availability
#	commissions	❌
#	hedging	✔
#	PAMM	❌
#	scalping	✔
#	accepts US traders	❌
#	24 hour trading	✔
#	swaps	✔
#	demo account	✔
#	daily analysis	❌
#	automated trading	✔
#	mobile trading	✔
#	trading by phone	❌
#	1st deposit bonus	❌
#	forex contests competitions	✔
#	bonuses promotions	✔
#	interest charges on the balance	✔
#	free education	❌
#	expert advisors	❌
#	partnership programs	❌
#	trust management	❌
#	24 hour support	✔

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.Net team collected over 50 data points. For this review, we will review XM.

Financial trading and investment services: first of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, cfds, cryptocurrencies or options. XM offers online financial trading and investment services such as CFD, forex, cryptocurrency, stocks, futures.

Tradable products: XM offers clients more than 1,000+ tradable assets to trade on, across forex, stocks, indices, commodities, metals and energies via spot, futures and CFD products.

Broker type: many types of brokers can be found in the most dynamic market in the world. XM is market maker.

Features: XM offers additional algorithmic trading tools and the ability to access trading signals from their own guru, as well as from MQL5.

XM allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As a market maker, XM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. XM also offers a number of useful risk management features, such as negative balance protection, price alerts and much more.

Minimum deposit requirement: to properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a forex brokerage. XM recommended minimum capital is $5.

Is the forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. XM is regulated by ASIC, cysec, IFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor protection & regulations: XM is authorised and regulated by the cyprus securities and exchange commission (cysec), the australian securities and investments commission (ASIC) and the international financial services commission of belize (IFSC), offering segregated client funds and negative balance protection.

Account currencies: next lets consider the account currencies each broker offers. XM offers EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR, different account currencies for each account types.

Account openning: XM offers 4 different types of trading accounts globally across different regulatory jurisdictions, with each account offering unique features and benefits for beginner and advanced traders.

XM offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages available: next lets have a look at each broker's different language options. XM offers english, arab, bulgarian, vietnamese, greek, indonesian, spanish, italian, chinese, korean, malay, deutsch, polish, portuguese, russian, turkish, french, swede, japanese.

Payment methods: next lets have a look at each broker's payment options. XM offers credit/debit cards, netteler, skrill, klarna, przelewy 2 different payment methods for each account types.

Deposit and withdrawal: uniquely, XM covers all deposit and withdrawal transfer fees for payments made via neteller, moneybookers and all major credit cards including visa, electron, mastercard, maestro and china unionpay, with instant account funding.

Trading platforms: next, let's look at the tools and features fx traders desire. With trading platforms, XM makes MT4, MT5, webtrader available to clients.

Web & desktop trading platforms: XM traders have access to the globally-recognised metatrader 4 and metatrader 5 trading platforms, accessible on PC, mac and web.
Mobile trading platforms: XM offers traders the ability to trade on the metatrader 4 and metatrader 5 mobile trading apps for ios and android operating systems, as well as tablets. The broker also offers the XM trading app which allows users to manage their MT4 and MT4 accounts.

Trader education
XM offers an impressive suite of unique educational products include forex seminars, educational videos, webinars, platform tutorials and live daily interactive education rooms.

Promotions
XM is currently offering two promotional offers but this could be subject to change – free VPS services and zero fees on deposits and withdrawals.

Support
XM offers 24 hours a day, monday to friday, customer support via live chat, email, online contact form and phone on more than 25 different languages.

Recup
XM offers 4 different trading account types with the choice of commission-free, or commission-based trading on more than 1,000+ tradable asset classes across forex cfds, stocks cfds, indices cfds, commodities cfds,precious metals cfds and energies cfds. Traders can use the globally recognised metatrader platforms and enjoy access to an impressive research and education section.

Final thoughts
the XM standard account and XM micro account offer commission-free trading. The XM zero account offers commission-based trading on forex pairs, albeit with lower spreads.

Trading experience
XM offers a wide variety of trading accounts giving a unique and flexible offering to trade on more than 1,000+ tradable assets across both metatrader 4 and metatrader 4 for PC, mac, web, ios and android. The broker also offers an impressive range of research and educational tools suitable for both beginner and advanced traders.

Is XM a scam?

Founded in 2009 and with more than a million clients, XM is without any doubt one of the powerhouses in the online trading industry. With a resume like that, it is quite safe to assume that this company can be trusted, but we still wanted to see which security features have been implemented here. In other words, we want to see for ourselves is XM a scam or a legit and reliable company. After spending considerable time trading on their website, we have familiarized ourselves with their security system and will tell you absolutely everything you need to know about in the rest of this text. Read on and see for yourself how a serious company operates.

Is XM a scam? | website reliability

We have tested out every available deposit and withdrawal method. Not a single problem ever occurred and no traces of XM scam were ever noticed. This is because the broker is extra careful when it comes to its clients’ funds which are kept in segregated accounts opened with investment-grade banks. You’ll be happy to know that your money (up to 20,000 euro) is also insured thanks to the investor compensation fund, whereas negative balance protection prevents you from losing more than you have in your account. Other parts of the website, like the trading platform and the customer support work flawlessly too, and the broker has a verisign certificate to prove it. The company is even UNICEF’s champion for children! But there are other evidence that can help you decide is XM a scam. Stay with us to learn what they are.

Is XM a scam? | licenses

You’ll be happy to know that XM is a fully regulated brokerage company on multiple fronts. Given that their headquarters are located in cyprus, it’s not a big surprise that they have a cysec license, and their license number is 120/10. However, the company is also registered with the FCA, IFSC, ASIC and even dubai’s financial service authority, which puts the company beyond any doubt. Furthermore, we have to say that everything on this website is done in full accordance with mifid, a strict directive issued by the european union. Therefore, in legal terms, this broker has absolutely everything a legit broker needs to have and more, so there really is no reason to waste time deliberating is XM a scam or not. Simply put, this is a very professional company that takes excellent care of its clients.

Is XM a scam? | conclusion

As you can see, XM is definitely not a scam but a serious company that puts its clients’ interests above all else. The financial security is absolutely impeccable and the broker has all the necessary licenses and more, which makes trading here one of the safest investments you can make. For more than twelve years these people have been a part of the trading industry, which is quite an achievement. A scam broker simply cannot last that long, not even close. So if you want to be sure your trading partner will treat you well, just open an account on this website and you will always have a place you can visit when an investment opportunity arises.

XM reviews

127 • average

Write a review

Reviews 127

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I was down in the dumps after my…

I was down in the dumps after my encounter with this company. I should have known better but their attractive offers made me ignore the red flags.
They took a lot from me and i kept falling for their tricks. Some tech expert from

Pulled a successful chargeback and i recovered my loss.

Its a fraud company NOT registered in FCA

Its a fraud company, contact FCA and give them the (FRN: 705428) number shown in the bottom of the xm.Com website and FCA (https://www. Fca. Org. Uk/contact) will tell you xm.Com is not a genuine company and does not appear in FCA record at all. The company which appears in the FCA record is trading point of financial instruments UK limited which has not notified the FCA that xm.Com is part of them. So under these circumstances FCA will tell you xm.Com is not a registered entity in the FCA record. So any dispute with xm.Com will not be dealt by FCA but by action fraud team (https://www. Actionfraud. Police. Uk/). Which makes xm.Com illegal to provide any kind of CFD or trading services to the UK residents. So whoever used xm.Com can contact their bank to freez and dispute the transactions.
The MT4 platform will play against you, as it did against my BUY STOP order. It did execute the order before the price reach to that point. Also my trailing which was supposed to close previous position was not started and my account was drained to zero. I have solid evidence of snapshot which I have taken. Xm.Com is full scammed. Contact FCA in uk and they will tell you xm.Com is not registered and cant use (FRN: 705428) for their illegal services in U.K

Stop loss not reliable

Stop loss not reliable ! Account came to ZERO because position didn’t close when stop loss was hit but faaar below !! Support contacted but they are rude and don’t give a sh.. ! Avoid these robbers

This is really bad trading platform…

This is really bad trading platform they close the deal with their own do not recommend this to anyone

Very poor complaint resolution process

They will take ages to respond if you lodge a complaint. High slippage with gold. Overall a shady broker

The worst of all

The worst of all, they are so rude to thank god I didn't make any transaction with them. They called me and they're asking me for hundreds of documents, cheaters, and fake people never trust this company. They're full of shiz.

When all efforts seems hopeless

When all efforts seems hopeless
when all efforts seems hopeless, i finally got blessed with delgado mary. She kept her promises. I was really skeptical towards her at first but thanks to this great platform it worked out beautifully. She was able to reclaim my money as promised. You can reach her: delgadomary827 at

It is a SCAM with big letters

It is a SCAM with big letters. After 2 weeks i have the following problem, which i will describe in steps.
1) i had some accounts in the past ( one of them had a 19euro deposit with bitcoins)
2) the accounts closed after inactivity and this year i decided to participate again, and rock n roll a bit with the stocks since i enjoy their leverages.
3) i open an account and i place 70 euros inside with DEBIT CARD
4) i win around 58 euros, and i try to take them out. They gave me back the 70 i placed but they told me use another way for the winings.

In this step i need to clarify that they currently have 4 ways of withdrawing. A) card B) bank C) E-wallet D)bitcoin

5) I tried with card and i got a response to try an alternative way. I tried with bank and they sent me an email regarding these 19 euros from the old account and that i had to withdraw another way. I tried with ewallet for the rest of the winnings but they did not let me either if i did not first get these 19 with bitcoin.

6) so, i used my ledger nano S wallet to withdraw my winings and guess what. They did not accept the wallet! After 2 weeks of struggling all i got is: find another wallet this is not valid.

What is not valid? One of the biggest companies securing crypto assets? Come on. So they told me either get another company ( but its my legal right not to trust another company ) or you can not get your funds. This is illegal since their platform has the problem and not the wallet obviously. Stay way. Very easy to deposit money, but as i saw here as well, many have problems withdrawing. Unbelievable experience i dropped out from them and i suggest you do the same. I also operate on etoro the last 8 years and i never had issues like that. Stupid platform and their support does not help at all

PS here is a hint, if you insist they connect you to a superior support member who can connect to your account manager and maybe that way you can have someone call you. At least they did for me, although this person ( woman ) told me that they would disable the btc withdrawal so that i could get my money with e-wallet, only to find out that after a few hours they sent me an email that what they told me on the phone was not possible. Amazing guys i will report that to the cybercrime unit first thing tomorrow morning as well and sue them for my time lost.

XM group forex broker broker review

Reviewer : justin freeman

Published: 7th december, 2020.

Broker information

Company name: XM group

Founded: 2009, 2015 and 2017

Country: cyprus, australia, belize

Platform info

Platform: metatrader 4, metatrader 5

Dealing desk: no

Web based: yes

Mobile trading: yes

Broker services

Regulators: cysec, IFSC, ASIC

Bonus: 50% and 20% deposit bonus up to $,5000 (T&C apply) *clients registered under the EU regulated entity of the group are not eligible for the bonus.

Minimum deposit: $5

Leverage: 1:30 *this leverage applies to clients registered under the EU regulated entity of the group.

US clients: no

Funding methods: credit/ debit card, bank wire transfer, local bank transfer, neteller, moneybookers, skrill, and more.

Open free
demo account

Bonus offer for forexfraud visitors

Expert’s viewpoint

The online broker XM is long-established and reliable. It has a solid reputation within the trading community.
The firm has a global client base. As a result, the exact entity you trade through and the regulatory framework you are protected by will be determined by where you live.
Understanding the breakdown is important because you always need to get to know your broker. The XM platform is a high-quality operation; it’s just worth noting that the exact offering might differ depending on where you reside.
The platform is very user-friendly. The trading platforms on offer (MT4 and MT5) are powerful, robust and firm favourites in the trading community. There is a focus on trade execution quality, research and educational support.
Setting up an account is straightforward and there are multiple payment processing options when it comes to funding.
The minimum opening balance requirement is low, only $5. That is, of course, not a large enough amount with which to trade effectively. It does though highlight how XM supports traders. The established wisdom is that you should start trading at a small size, so XM deserves some credit for facilitating that.
The XM micro account which is expressly set up to allow for small-scale trading, remains a stand-out feature of the XM service.

There’s a lot to like and hardly anything to dislike. In fact, as XM ticks so many boxes, it’s worth visiting the site to set up a demo account. Spending some time trying out risk-free trading is an excellent way to test your strategies in the markets. You’d also get a better understanding of a broker which is right up there in the broker rankings.

Broker summary

XM group is a collection of regulated online brokers. Financial instruments ltd was founded in 2009 and is regulated by the cyprus securities and exchange commission (cysec 120/10).

Financial instruments pty ltd was founded in 2015 and regulated by the australian securities and investment commission. (ASIC 443670) and XM global limited, which is regulated by the international financial services commission with license number IFSC / 60/354 / TS / 19.

The XM family also includes XM global, a brand owned and operated by XM global limited, an authoritative body established in 2017. It is licensed and regulated by the belize international financial services committee.

Broker introduction

It’s essential to check the detail of the T&cs to be100% sure which entity you will be registered with; however, a rough breakdown is that:

EU clients – will trade with financial instruments ltd which was founded in 2009 and is regulated by the cyprus securities and exchange commission.

Australian clients – will trade with financial instruments pty ltd, which was founded in 2015 and is regulated by the australian securities and investment commission.

Rest of world clients – will trade with XM global limited, which is regulated by the international financial services commission of belize.

Cysec and ASIC are regarded as tier-1 regulators. IFSC falls into tier-2 but is considered one of the more robust authorities in that group.

The trading services provided by XM are top-grade, regardless of which entity you are registered with.

Spreads and leverage

One of the big draws of XM is its tight trading spreads. There are three account types, micro, standard and XM zero. The XM zero option is a new addition and features ultra-thin spreads, even as low as zero pips.

The micro and standard accounts are more ‘entry-level’ in terms of functionality but still have very competitive pricing.

Experienced traders will share that trading isn’t just about spreads; quality of execution also needs to be considered. The XM zero account also comes with features such as VPS trading infrastructure and a ‘no re-quotes’ guarantee.

In line with standard industry practice, leverage is capped at a level set by the regulator. In the EU, for example, the limit is 1:30. Clients outside of europe might find they can apply even higher leverage than that.

XM group offers its clients several types of accounts. Micro trading account – the minimum deposit is only $5. Standard trading account – the minimum deposit is only $5. XM zero – the minimum deposit is only $100. Islamic and free demo accounts are provided.

Platforms & tools

Opening an account at XM will take no more than five minutes. Registration is online and the protocols followed are typical for a regulated broker and include uploading ID to provide proof of residence.

XM supports markets in more than 1,000 financial instruments which can be traded on the ever-popular MT4 and MT5 platforms. XM is particularly good at ensuring that clients can find a platform type which suits them. That is best reflected in the fact that there is a market-leading number of 16 platforms from which to choose.

Easy access to a variety of platforms gives traders the flexibility to trade from anywhere and at any time. Metatrader MT4 also supports an unlimited number of demo and real accounts, and expert advisors (eas) for those looking to incorporate the ideas of others in their trading.

Asset groups covered include forex, stocks, cfds, commodities cfds, equity indices cfds, precious metals cfds and energies cfds.

One area where XM stands out is in terms of quality of trade execution. There are no re-quotes or rejections of trading orders, no hidden fees or commissions, and 99.35% of orders are executed in less than one second.

Commissions & fees

Clients can benefit from tight spreads as low as 0 pip on the major currency pairs.

There are three account types, with pricing schedules across all of them being very competitive.

MICRO account (1 micro lot = 1,000 units of the base currency)

STANDARD account (1 standard lot is 100,000 units of the base currency)

XM ZERO account (1 standard lot is 100,000 units of the base currency).

Base currency options include USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD and ZAR. That is a healthy number of base currency options that helps keep down the frictional costs associated with converting from one currency to another.

There are generally tight spreads on over 60 currency pairs and a spread as low as 1 for micro and standard account types and as low as 0 for an XM zero account.

XM also provides fractional pip pricing so that clients can trade with tighter spreads and benefit from the most accurate quoting possible.

The process of making deposits and withdrawals is fast and easy. Multiple payment options are supported including, VISA, VISA electron, mastercard, switch, solo), bank transfer, neteller, moneybookers and skrill.

The recently introduced local bank transfer option enables investors to fund their accounts through their local banks (in 58 countries worldwide) and in their local currencies. There are no hidden fees, or commissions for funds transfers and XM covers all transfer fees.

Account funding is 100% automatic and is processed 24/7, while same-day withdrawals are guaranteed.

Education

A wide range of educational material is freely available. It covers the basics of ‘how things work’ and moves on to more advanced presentations on trading strategies and advanced analysis.

There are podcasts, free weekly interactive webinars, as well as all the research developed and shared by metatrader on their MQL5 platform.

The research is designed to help you trade. The multilingual economic calendar, along with forex news and market analysis reports provided by XM’s in-house experts, enables you to follow market changes and to adapt trading decisions accordingly.

Customer service

Multilingual personal account managers are available to holders of both demo and live accounts. They can be contacted via live chat, telephone or email in over 14 languages. The coverage is also impressive, with professional support available 24-hours a day from monday to friday.

Additional extras include phone trading. Being able to contact a dealing desk can be a deal-breaker should your IT systems go down. There are also personal account managers to help guide you through the markets.

Final thoughts

XM will appeal to both beginner and seasoned traders. Low-cost trading never goes out of fashion but XM is much more than a no-frills operation. Registration is available in 17 languages and the fact that trading can be started with a minimum deposit of $5 is a positive feature. Beginners especially are encouraged to start small and to stay that way until their trading results justify scaling up on positions.

XM has been around long enough to be considered established. It still has the feel of a next-generation broker providing clients with a range of progressive and innovative features.

The firm continues to receive recognition in terms of positive client feedback and industry awards. It’s easy to see why.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

About the author : justin freeman

Justin has twenty-two years' of experience working in the financial markets with brokers. He's held trading and risk management positions at boutique asset managers and large investment banks. Justin helps people understand their trading options in a clear, jargon-free manner.

XM reviews and comments 2021

They took money without my permission send via BTC to another account that is not belong to me. Choose very carefully your broker, I do not recommend to use XM.

Faruk 24 december, 2020 reply

I made a withdrawal over a week ago and i still haven't received my money in my bank account. But the deposit takes a mater of few seconds to happen. I'm very unhappy with that i can't get money back now. Called the bank and they said no money has been sent to my account from XM. Stay away from this broker. It will end in tears.

Thabanag 24 november, 2020 reply

I wish I came to this review site before I started trading with with those scammers. I was trying to withdraw R1800 today and was told i violated rules. They use people to trade for them and steal their money when we try to make withdrawals.I wanna sue them or something. Why aren't we doing anything about this we all have the same complaints.

XM for me is a genuine broker. First they offer 30$ bonus and trust me this is the best in the industry since they have a very few conditions to meet for profit withdrawls. Second, they dont charge any % for all deposits and withdrawals and moreover the withdrawal are very fast as compared to other brokers. They have a very huge options for CFD tradings. Overall, I have used XM for 5 years now and I am a very happy client. I also use fxpro and hotforex sometimes, they are also better.

Sanjog 24 november, 2020 reply

They will offer you a free $30 no deposit bonus and the account become profitable you will received an email that you violated rules without an explanation. If you asked their chat agent you ended up talking to a robot.

Jess 23 november, 2020 reply

Please read the T&S properly,

Sanjog 24 november, 2020

I got the bonus traded and made $61 profits then the moment I withdrew it I got an email that said I have viloted section b of the terms and conditions of the broker.

Philani 29 november, 2020

I opened a standard account with xm and the spreads for currency pairs are way too high. Then I opened an ultra low account still all I see is fixed spreads but when you review their services they say they offer tight spreads.

Kevin rakuba 12 november, 2020 reply

I haven't recieved my withdrawal, it's been a whole week (7 days) now. XM isn't a trustworthy broker for real. The transaction says "approved" but there is no action that has been made. They're 100% scammers.

Siphiwe 30 october, 2020 reply

Siphiwe, did you finally get your money? Your response is crucial because I want to fund.

Forex gump 15 november, 2020

I withdrew my money and xm decided to terminate my account and took all the profits I made now I have nothing on my platform. Xm is a broker you no longer have to trust.

Sarah 29 october, 2020 reply

I withdrew 2 times, I did not receive my money even today.

Sithembiso 23 october, 2020 reply

Try withdrawal using the "local bank transfer" option, it's works for san bank accounts, you won't regret it.

Pieceofmind 23 november, 2020

XM closes my trades while I'm still making profits.

Pablo 19 october, 2020 reply

I have deposited my money in xm. But in trading sl and tp don't work. They guide to use lots from 0.10 and above no low that. Bad broker ever.

Max 16 october, 2020 reply

Xm didnt't allow me to place more than 2 oders. Stop loss doesnt work, even take profit.

Western 7 october, 2020 reply

Xm closes my winning trades, bad broker, don't trust them.

Rafikie 2 october, 2020 reply

Xm automatically closes all your winning trades, but keeps your losing trades running. Run away from xm.

Manolis 30 september, 2020 reply

Have been currently a xm client for a year now. I am disappointed. With xm I have blew my account for the 10th time but with my other broker I am making profits. When I ask them what's going they say they are not incontrol of the market. I have been losing since i used xm. It looks convinient but its nonsense broker. They manupulate the market. You dont make profit with xm. Can someone please help me report this, am fed up.

Angry client 29 september, 2020 reply

Where are you trading angry client? Which other broker?

Imran 29 september, 2020

Bad broker ever. I have been waiting for my account validations for over 6 days now. But my deposits took less than 5 mins to proceed and again. Their support team takes more than 24 hours to reply your complaint. Do not use that broker!

Bless 23 august, 2020 reply

Never deposit while waiting to be validated you might be declined and you will never get your deposit.

Yamkela 23 september, 2020

XM is most fraud broker I ever seen. I deposited two times but they never add that money for trading. I contact them by mail but they denied that they got payment. My bank told me that payment transfer into their account successfully. I am very upset becouse of this fraud. Don't trust XM.

Deepak sharma 29 july, 2020 reply

Well then you need to ask your bank for the code numbers for investigation and send it to XM to open a investigation that will take only a few days.

Filipe pereira 1 august, 2020

Don't trust the XM. They will never add your money in account. I deposited two times but they denied. Transactions was successful and I sent them statement more than 5 times but they stole my money.

Deepak sharma 29 july, 2020 reply

I've been using xm for years but I haven't encountered any problem with my deposit nor withdrawal.

Lyn 7 september, 2020

Same here! I've been doing the same thing now from half a week. They have no intention of refunding my $500.

Sachin 21 october, 2020

XM is not a good broker at all. Just yesterday I tried to withdraw my profits from the $30 credit and they rejected it. Then later sends an email advising that i have violated the terms and conditions of the bonus "participation of intermediaries/related parties" in the "no deposit trading bonus scheme" is prohibited. If the registration and/or trading data of a participant in the "no deposit trading bonus scheme" corresponds with the registration and/or trading information, including but not limited to the IP address, of another participant in the "no deposit trading bonus scheme", XM reserves the right to regard this matching as a reason for immediate disqualification. Now why is this not mentioned while I'm busy trading? I have asked for proof of violation and nothing. I've never had a bad experience with brokers before. XM takes the cup.

Same thing happened with. I asked them attach proof of the violation that occurred. Cause I've never any information with anyone, how can they proof I did that. They should give proof of how they concluded I shared any kind of information. They keep sending me an automated email saying: dear valued client, we thank you for choosing XM as your trusted broker. Regarding your concern, please have in mind that you received an email from us explaining the status of your account, and we kindly ask you to check that email and to have it in mind for further information. Should you have any further questions, please do not hesitate to contact us. Wishing you a great day and successful trading! This is all they've got say. None of my questions are answered. They are scammers of life this one. Do not trust this broker at all

Miss P 14 october, 2020

Many bad reviews are from ignorant lazy people. I've been with xm for 1.5 years and I prefer it. I withdraw into my bank in 2 days with no issues. I do what i want in my style and no issues. The only thing i dont like is that here in indonesia a lot of forex websites are banned even if well regulated. Even with vpn sometimes takes a few tries to open website, makes you think the broker went down. XM is involved and legit. Be informed and stop whining.

Don't think because you haven't experienced problems yet with xm and now other people's complaints are not legit. Stupid!

Baruch 7 october, 2020

People from different countries are treated in different ways there. May be that's why many are facing these problems.

Sachin 21 october, 2020

I don't know if this broker is a scam, I almost had open account in XM, but after reading lot reviews, a lot people complain about, actual this broker seem kinda popular and genuine trustwith, have a very good webpage and all, it seems 100% legit! If lot people feels scam by this broker, how comes it still legaly and operating after 10 year of existence, kinda strange in my opinion, but I still got my doubts and after reading lot complains about it, and decide not open an account in this broker!

I'm thinking of opening an account. XM should respond to all complaints and be transparent.

Gilbert 3 october, 2020

To those who claim to be happy with XM, why aren't you sharing your methods of withdrawing funds from trading accounts to bank accounts without having issues, which is the most mentioned issue here.

Disappointed trader 22 june, 2020 reply

The problem is not from the broker or the bank who didn't accept the withdrawal, but I talk with them and I got it most of time they don't accept ot just like that from first time.

Ayman 3 november, 2020

Thanks for all the honest reviews, I was about to open an acct in XM, until I read all these bad reviews, I would suggest to report these to the regulatory authorities.

I was recently scammed by XM. I am a first time real account trader and XM was recommended if you want to start off risk free. Ive done my due dilligence but XM was 50/50. I tried withdrawing to my skrill account but i had complications with skrill so i had to cancel. I tried to withdraw again and all my money was gone. I get an email saying things i literally dont understand. Dear valued client, we are contacting you with reference to your account(s) no. 57048994,4875388 (your account(s)) at XM global limited. The trading patterns in your account(s) raise serious concerns regarding the credit bonuses we have granted to your account(s), since these were used for cash-back arbitrage activities. Pursuant to the terms and conditions applicable to our credit bonuses, the following activities are qualified as follows: any form of arbitrage trading. Bonuses claimed by multiple accounts that were registered from the same IP address. Various practices of bonus manipulation. Breach of any points included in our bonus terms and conditions. Any fraudulent activities, disputes or situations that our management considers as fraudulent. Accordingly, we regret to inform you that, in accordance with the terms and conditions, we have decided, with immediate effect to, (i) close your account(s) with trading point, (ii) to nullify all trades carried out in your account(s) with trading point, and (iii) to cancel any and all profits or losses garnered in your account(s) with trading point. Please note that, in accordance with the terms and conditions, our decisions are final and binding on all participants and that, other than the notification set forth herein, there will be no further correspondence on this matter.

Collins echefu 10 june, 2020 reply

When you make profit they will send you emails you won't even understand telling you that your trading raise some concern and they are closing your account and you won't even get your profit only initial money. I will not recommend this broker to anyone.

Thanks for the people giving comments based on their experience. I am looking for some honest broker, and its difficult to find one. Mostly I see all the brokers are cheating someway or another, eiher in spreads, or in charging, or in withdrawals and reluctant to give you back your hard earned money. Can any one suggest good honest broker here plz. Appreciate it.

Imran 29 september, 2020

Xm is one of the best brokers i know. I've been using them since 2015 and i'm a profitable trader. All brokers have stories but xm ena de less drama. I love you xm you made me who i am today.

I'm so disappointed on xm. I requested a withdrawal on 24/09/2020, it's been 2weeks I still have not received the money.

Sibu 7 october, 2020

Xm is a very bad broker, when it comes to withdraws they only give me the money i deposited and leave the profit i made.

Pfanani 23 may, 2020 reply

I made a withdrawal the beginning of april till this day I haven't recieved my money

Customer service is shocking, they refuse documents for account validation then don't tell you why they refuse, you send them a email and then you get a computer generated reply! More then willing to take the deposit but you cant trade or withdrawal until you have validated your account!! I sent the same documents to my offshore bank and they accept but XM. They take 24 hours to reply to one email so make sure it has all the information you require.

Never trade gold with xm. They freeze the price just has you about to go into profit by 6 pips and release when price is back. I did record it live next to another platform of mine. They refuse to give me answers. Bad broker only good for taking your money fast.

I scalp gold on m1 and m5 in illiquid times on xm and besides possible low internet connection, this has not been a problem for me.

XM is the worst broker i've ever experienced. These people claim to be the most legitimate company with so much awards but if you haven't used it yet I advice you with all my heart to stay away from them. First the deposit is one of the most fastest way I've seen & takes only 1 min. But withdraw to give you back your money is another story. I've withdrawn money after talking to them via live chat asking if I can withdraw using alternative methods, they said I can only do that if the money is profit above the initial deposit. Last week I withdrew 2 times but it never used the alternative method but instead they sent me an email saying the money is sent to bank. They claim it takes 2-5 business days. This is the second week complaining about my money with no sign of arrival what soever. When I try to chat them, they try to give me unnecessary reasons just for you to give up on your money. I claimed for my account manager to call me he refused to call at all. Up to this day idk what to do my money disappeared out of nowhere. The most saddest part is that I still have funds on their trading accounts that I truly want to remove from there as fast as possible but I cannot because two withdraws haven't even arrived to my bank yet. XM, you're not doing business in a professional way, you don't want to lose a single penny from your accounts. But guess what? I will not tolerate this, I will not give up claiming for my cash, I'll do whatever necessary wether legal or illegal to get my money. Do not think clients can just give up their money just like that. You'll not rest until you get to do your promises and business right. Once all my funds are out of your hands I'll leave you in peace. I sincerely regret working with you and I advice any other new client to not deposit because once the money is there, the return is almost to impossible. This review is from the bottom of my heart as a client for 1 & half year. My review is clearly below zero.

Manzi emery 27 april, 2020 reply

Guys I want to thank you keep it up with good works, deposit and withdrawals are fast I am enjoying to be part of xm. I love you keep up nd I'm giving you 5 stars

Mfanafuthi ngcobo 26 april, 2020 reply

I have a question rather. Did you get your withdrawal after making profit on the $30 bonus?

Sebenele 17 november, 2020

Forex reviews and information about brokers outspoken by their clients are valuable sources that give the trader an idea whether trading with a certain company is to be profitable or not. Once you are interested in trading with XM and would like to know if the official broker's information and their activity profile correspond to the facts, it is useful to read reviews about XM. These reviews have been written by either former or present-day clients who've described their positive or negative experience of trading with the broker, advantages and disadvantages of this company. All these attestations are different, and if you wish to add your comments, say, about improper client service of a broker or to underline their positive sides, this section is for you.

Reviews about XM might be of good service to the new forex traders who are yet hesitating which forex broker to opt for. The information featured in this section is judgmental and cannot be taken as an instruction manual; however, it is definitely useful and can help you understand if the broker matches your personal criteria. The topics of reviews can be very different; it is not prohibited to express an opinion on any forex trading issue. At that we expect our site visitors to be of decent conduct and to follow the moral standards.

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by.

XM forex broker review – scam or not?

Should you avoid the forex broker XM or is it actually a recommendable company? – on this page, we share our own experiences in the form of a test report on this forex and CFD broker. Learn about the terms and offers for traders in the following texts. Also, we will show you a step by step tutorial which shows you how to trade successfully. Is it worth it to invest his money or not? – inform now transparently.

The official website of the forex broker XM

What is XM.COM? – the forex broker presented

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by the australian securities and investments commission (ASIC 443670) and XM global limited was established in 2017 with headquarters in belize and it is regulated by the international financial services commission (IFSC/60/354/TS/19). The company was founded in 2009 and has since enriched more than 1.500.000 customers in over 196 countries. Even the broker is one of the biggest in his industry.

The goal is to give the customer a very fair and reliable offer for investing in international financial markets. Customer support is also a top priority for this company and is available in more than 30 languages. We will check this in the following experience report exactly. In addition, the broker is very active in distributing advertising and sponsorship. Especially for customers, the broker is even to be found at seminars or financial fairs worldwide.

XM offers trading in currencies (forex) and cfds on commodities, precious metals, energies, stocks, and indices. Currently, over 1000 different markets are offered to traders. The broker works as an intermediary for tradable contracts for difference. In summary, the offer is very large at first glance and also the company data prove to be trustworthy.

Facts about the FX broker XM.Com:

Founded in 2009

More than 1.500.000 international customers

Worldwide offices (cyprus, australia, belize)

Huge variety of assets

Support and service in international languages

More than 15+ award-winning forex boker

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Regulation of XM and safety of customer funds

An official regulation or license radiates trustworthiness and security. Every trader should find out about opening an account with a broker. The regulation is intended to push frivolous and fraudsters out of the market. Licenses require certain criteria and regulations that guarantee a clean and secure trade.

Another good impression on me is that XM has several licenses. In more than 4 countries, the broker is regulated by an official financial regulator. In addition, the company is registered in many european countries with appropriate supervision and has an EEA freedom to provide services.

In addition, customer funds are managed in different investment-grade banks. XM is only doing business with regulated payment providers. Also, the broker is a member of the investor compensation fund. XM does not trade versus its clients, which is forbidden through the regulation, and for more safety, there is negative balance protection.

XM is a highly regulated broker

XM is a very safe forex broker:

Regulation of official finance regulator in the cyprus (cysec), australia (ASIC), and belize (IFSC)

Member of the investor compensation fund (only for trading point of financial instruments ltd.)

XM does not trade versus clients

The client’s funds are kept in segregated client bank accounts

Negative balance protection

ESMA regulation

In 2018, the leverage for traded derivatives (forex and cfds) was massively restricted to 1:30 by the european financial services authority (ESMA). Brokers, which have a license in europe, are only allowed to offer this small lever to customers. This is a significant problem for some traders because certain strategies (such as hedging) can no longer be performed.

However, the leverage of 1:30 applies to clients registered under the EU regulated entity of the group. Leverage depends on the financial instrument traded.

Review of the conditions for traders

XM is very broad with over 1000+ tradable instruments. There should be no lack of choice here for a trader. As mentioned above, a variety of stocks, commodities, currencies (forex), precious metals, and energies are offered for trading. Especially stock trading is a huge advantage with XM, assets from more than 14 different countries are available.

In terms of trading platforms, XM relies on the world-famous platform metatrader 4 and 5. This is, in our opinion, one of the best software for private traders. We will give you a more detailed explanation in the section trading platforms.

Assets and markets of XM.Com

The terms of trading in leveraged financial products are, in my experience and tests, very good and competitive. XM relies on several different account types, which give a trader excellent conditions, depending on the capital strength. Spreads can start at 0.0 pips on the most traded markets. In addition, the execution is very reliable and there are 100% no requotes.

As a trader, you can start trading for as little as $ 5 minimum deposit or use a free demo account. In addition, there are different account types for every type of capital (more on that later). All in all, the conditions make a very positive impression on us and XM can be one of the cheap and reliable brokers.

Conditions for traders:

Spreads starting at 0.0 pips

Different account types

Maximum leverage is 1:30 for clients who registered under EU regulated entity

Maximum leverage is 1:500 for clients who registered under belize or ASIC regulated entity

Minimum deposit of 5$

Free and unlimited demo account

More than 1,000 different markets

regulation:	support:	assets:	special:
cysec, ASIC, IFSC	24/5 in different languages, webinars and training tutorials	1000+ (forex trading, stocks cfds, commodities cfds, equity indices cfds, precious metals cfds, and energies cfds)	different account types

Test of the XM trading platform

As mentioned before in this review, the well-known trading platform metatrader in version 4 and 5 are offered. In our opinion, there is no better trading platform for private traders worldwide, because it offers many universal options. The trading platform is characterized by its flexibility and user-friendliness.

With the metatrader, you can adapt your trading to any trading style. The platform can be customized and even programmed. Whether long-term or short-term hands, the metatrader always delivers the right settings. Robots or automatic programs are also allowed with this program.

Trading platform available for any device

The advantages of the XM metatrader:

1 login and access to the web trader, app, and desktop version

Automatic programs may be used

No requotes

Rental of a VPS server possible

Complete video tutorial is available from XM

Charting and analysis for forex trading

Of course, charting and analytics are very important to successful traders. It is not uncommon that traders even need to access external software. This will not be necessary with XM, because the metatrader offers all-important charting and analysis options. Choose between more than 4 different chart types in the software.

Any timeframe (time unit) of the chart can be set for the analysis. The software also offers the right tools. Free indicators can be added at any time. There are also a number of drawing tools available. If that is not enough, you can program the indicators yourself or insert them externally.

Individually customizable tools

Free indicators

Big range of technical drawing tools

Mobile trading for any device

Another benefit of the software is that it is available for every device. Use the metatrader also on apple (ios) and android devices. Mobile trading today is a standard requirement for the trading software, as it is important to be able to respond to news from within. Positions can be opened, managed, or closed by your smartphone. Furthermore, you only need access to each device. With your account data, you can log in everywhere.

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Trading tutorial: learn how to trade with XM step by step

In the following section, we would like to give you a guide to trading with forex broker XM. In the picture below you can see the order mask of the metatrader. There are many different settings options for trade execution. The following points will tell you how the typical trading process works.

First, analyze one out of 1000 different markets/assets at XM and decide to invest or open a trading position. For this purpose, the fundamental analysis or technical analysis can be used. Metatrader offers enough tools and settings.

As you can see in the order mask, you can always bet on rising or falling prices. This is easily possible with forex trading and happens during CFD trading via short sale.

Now you have to choose the position size (volume) and the stop loss or take profit. All sizes are dependent on your planned risk. Choose specific price tags when to open and close a trade. The position sizes are given in lot (1 lot = 100,000 units of the base currency). Beginners should definitely use the XM forex calculator, which is available on the website.

The stop-loss stops you in a loss at a certain price (risk) and the take profit automatically closes your position at a certain price in profit. Learn to divide the profit-risk ratio.

Pending orders are another way to open positions. Place orders at specific prices in the market. If the market touches this price, your position will be opened (whether sell or buy).

Open your free account with XM

Next, we would like to look at the account opening in this review. On the website, it is clear that you can open a demo or live account directly. In a few minutes, the depot opening works according to the support. Simply use a valid email and other personal information. The email address must be confirmed after opening the account.

Free and unlimited demo account

A demo account is a virtual balance account. You can use it to try out all the features of broker XM and trade without risk. It simulates the real money trade with “play money”. It is also a great way for beginners and advanced traders to develop their own strategies or test of new markets.

XM offers a free demo account of over $ 100,000 in virtual credit. If desired, a currency other than the USD may be taken. This account can be used indefinitely and it is the perfect way to get practice with the broker.

Open your account in less than 60 seconds

How to open your real account

Once you have chosen XM, you can open the real money account. This requires more data. The broker also asks a few questions about your knowledge in trading before opening an account. You also need to confirm your phone number to ensure additional security for the account. Before the capitalization, the account should and should be verified. This is very easy with the upload of a passport and proof of residence.

XM guides you through the account opening process. There is a detailed and accurate step by step guide so nothing can go wrong. If you have questions, you can contact the support. In summary, opening an account is very easy and works in a short time.

(risk warning: 73.57% of retail investor accounts lose money when trading cfds)

Choose the best account type for you

XM offers the advantage of 3 different account types. It can be decided between the “micro”, “standard” and “XM zero account”. The account types are adjusted to the capital strength of the customer. For example, in a micro account, you can trade with very small position sizes (risk of a few cents). There is a separate cent contract size.

In the “standard” and “XM zero account”, there are normal lot sizes. The difference between these two accounts lies in the fees and the possible currency of the account. For example, you can choose 7 different currencies for the standard account and only 2 for the “XM zero account”. Spreads are much lower in the “XM zero account” and start at 0.0 pip. But you have to pay a commission of $ 3.5 per $ 100,000 traded. Overall, the “XM zero account” is still much cheaper than the standard account.

Micro	standard	XM zero spread
min. Deposit:	5$	5$	100$
currency:	USD, EUR, GBP, CHF,‎ AUD, HUF, PLN	USD, EUR, GBP, CHF,‎ AUD, HUF, PLN	USD, EUR
spreads:	1.0 pips	1.0 pips	0.0 pips
commission:	no	no	3,5$ commission per 1 lot traded
islamic account	yes	yes	yes

(XM also offers the XM ULTRA LOW account which allows you to trade with either micro or standard lots, lower spreads from 0.6 pips and it has a minimum initial deposit of $50. The XM ULTRA LOW account is not applicable to all entities of the group)

Should you choose fix or variable spreads?

Some brokers offer fixed spreads. This means that the spread (the difference between buying and selling price) is always the same. He is also not dependent on the market situation. The problem here is that usually high fees or insurance premiums have to be paid. In addition, it is difficult to guarantee fixed spreads, because the stock market does not work on the principle. Fixed spreads are generally unnatural.

XM offers the direct interbank spreads for your clients. This also has the advantage that there is no conflict of interest. The spreads are reduced to the lowest and you always get directly the current market prices. It is not better. XM is very transparent here and reaps a clear plus point for us.

XM always offers the best and tightest spreads

Do your first deposit

Now it is your turn to capitalize on the trading account. From our experience, this also works pretty fast. We will give you an overview of this section about the payment methods. You can use electronic methods or a classic transfer for the deposit. Using electronic methods (credit card, e-wallets, neteller, skrill) the money is credited directly to the account. Bank transfer can take 1 to 3 days. There are no fees for the deposit.

Review of the withdrawal

Another important point of a good broker is a quick and easy payment of client funds. It is not uncommon for a broker to experience difficulty in paying large sums and delays.

This is not the case with XM. The company is always liquid and makes payments in less than a day. The fees are to look for in vain. The only fee that can be incurred if you pay less than $ 200 by bank transfer. From my experience with XM, you are with a very secure broker who treats client funds with the highest confidence.

The conditions for payments:

Credit card (VISA, VISA electron, mastercard, maestro)

Electronic wallets (neteller, skrill, and more)

Bankwire

Minimum deposit 5$

Withdrawal within 24 hours

No withdrawal fees (except bank wire under 200$)

Is there a negative balance protection?

Cruel stories about account balances thanks to the extra payroll haunting the internet. Many traders are afraid of additional funding and would like to act without them. These concerns are completely correct.

With XM.COM there is no additional payment obligation. The balance can not end up in a negative balance. The broker will automatically stop all postings before. Should the account balance become negative anyway, XM will compensate him (very unlikely).

XM support and service for traders tested

With XM you get more than one trading account because the customer service is provided by many employees of the company. Over 30 different languages are available in customer support. International employees also work for the company and help you around the clock. Use a telephone, email or chat support.

For example, you can also access professional training and webinars. The webinars are held almost daily and are accessible to every customer. There are also daily market analyzes and even signals to trade. Another plus is the personal account manager from XM. Each customer is assigned an employee who is available for questions and suggestions. It tries to find the best deal for you personally as a trader.

In summary, we can say from my experience that the analyzes offered, etc. Are very well applicable for their own trade. Beginners and advanced traders can expand and improve their knowledge for free. In addition, the service makes a good impression on me.

Facts about the service:

Personal account manager

24/5 support in different languages

Daily webinars and analysis

Service for beginners and advanced traders

Conclusion of the XM forex broker review – scam or reliable company?

XM can hold its own in comparison to other brokers and gets a very good rating from me on this page. With several licenses and regulations, the company exudes a high level of security and trustworthiness. In addition, client funds at XM are managed separately from corporate funds, which eliminates a conflict of interest.

Overall, the broker with its over 1000+ markets offers a very large offer for private traders. Take, for example, markets from distant countries. The portfolio will also be supplemented by the new markets. The metatrader trading platform is also perfect for analyzing markets and opening trades. Diversity for customers is 100% guaranteed by this broker.

Another advantage is the terms of trade and in the deposit and withdrawal. The fees are so low that XM can count to one of the cheapest brokers. The positive features of the company are rounded off by customer support. At XM, you not only get technical help but also a great way to educate yourself in the trade.

The advantages of XM:

More than 1000 different assets

A regulated and safe company

Cheap trading fees

No hidden fees

3 different account types

Metatrader software

Professional support and service

Accept international customers (europe, africa, indonesia, asia, india, china, and more)

In summary, XM is a recommended and trusted forex broker. We highly recommend this company after our test. Happy trading (5 / 5)

XM reviews

127 • average

Write a review

Reviews 127

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This is really bad trading platform…

This is really bad trading platform they close the deal with their own do not recommend this to anyone

Very poor complaint resolution process

They will take ages to respond if you lodge a complaint. High slippage with gold. Overall a shady broker

The worst of all

When all efforts seems hopeless

It is a SCAM with big letters

In this step i need to clarify that they currently have 4 ways of withdrawing. A) card B) bank C) E-wallet D)bitcoin

6) so, i used my ledger nano S wallet to withdraw my winings and guess what. They did not accept the wallet! After 2 weeks of struggling all i got is: find another wallet this is not valid.

XM review 2021

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Summary

Recommended for forex and CFD traders who prefer metatrader platforms and seek great account opening

XM is an online broker whose parent company is trading point holding, a global CFD and FX broker founded in 2009.

XM is available globally and is regulated by three financial authorities: the cyprus securities and exchange commission (cysec), the australian securities and investments commission (ASIC) and the international financial services commission of belize (IFSC).

Disclaimer: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.04% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

XM pros and cons

XM has low stock CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools, such as webinars and a demo account.

On the other hand, XM has a limited product portfolio as it offers mainly cfds and forex. Its forex and stock index CFD fees are average, and there is no investor protection for clients onboarded outside the EU.

Pros	cons
• low stock CFD and withdrawal fees	• limited product portfolio
• easy and fast account opening	• average forex and stock index CFD fees
• great educational tools	• no investor protection for non-EU clients

XM main features and highlights

��️ country of regulation	cyprus, australia, belize, united arab emirates
�� trading fees class	average
�� inactivity fee charged	yes
�� withdrawal fee amount	$0
�� minimum deposit	$5
�� time to open an account	1 day
�� deposit with bank card	available
�� depositing with electronic wallet	available
�� number of base currencies supported	11
�� demo account provided	yes
��️ products offered	forex, CFD, real stocks for clients under belize (IFSC)

Author of this review

Ádám nasli

Everything you find on brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

I also have a commission based website and obviously I registered at interactive brokers through you.

Especially the easy to understand fees table was great!

XM review
fees

pros	cons
• no withdrawal fee	• inactivity fee
• low stock CFD fees	• average FX fees

XM fees snapshot

assets	fee level	fee terms
S&P 500 CFD	average	the fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	average	the fees are built into the spread, 2.6 points is the average spread cost during peak trading hours.
EURUSD	average	with standard, micro, and ultra-low accounts the fees are built into the spread. 1.7 pips is the standard account's average spread cost during peak trading hours. With XM zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	low	$15 one-off maintenance fee after one year of inactivity, followed by $5 per month fee if the account remains inactive.

How we ranked fees

We ranked XM's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.

Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of XM for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared XM's fees with those of two similar brokers we selected, XTB and etoro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of XM alternatives.

To have a clear overview of XM, let's start with the trading fees.

XM trading fees

XM trading fees are average. XM has many account types, which all differ in pricing. The standard, micro, and ultra low accounts charge higher spreads but there is no commission. The XM zero account charges lower spreads, but there is a commission. The following calculations were made using the standard account.

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compared brokers by calculating all the fees of a typical trade for selected products.

We chose popular instruments within each asset class:

Stock index cfds: SPX and EUSTX50

Stock cfds: apple and vodafone

Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For volume, we chose a $2,000 position for stock index and stock cfds, and $20,000 for forex transactions. The leverage we used was:

20:1 for stock index cfds

5:1 for stock cfds

30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for XM fees.

CFD fees

XM has low stock CFD, while average stock index CFD fees.

XM CFD fees for a $2,000 long position held for one week

XM	XTB	etoro
S&P 500 index CFD fee	$1.6	$1.4	$1.5
europe 50 index CFD fee	$2.4	$1.8	$2.7
apple CFD fee	$6.4	$17.3	$6.7
vodafone CFD fee	$1.2	$20.8	-

Forex fees

XM's forex fees are average compared to its competitors.

XM forex benchmark fees of a $20,000 30:1 long position held for one week

XM	XTB	etoro
EURUSD benchmark fee	$9.5	$8.3	$8.8
GBPUSD benchmark fee	$8.4	$6.0	$8.5
AUDUSD benchmark fee	$10.3	$6.5	$8.2
EURCHF benchmark fee	$9.7	$8.9	$12.6
EURGBP benchmark fee	$10.5	$8.4	$12.3

Real stock fees

Clients onboarded under IFSC can also trade real stocks using the shares account.

The real stock fees are lower than XTB's, but lag behind etoro's commission-free real stock offers.

Stock and ETF commission of a $2,000 trade

XM	XTB	etoro
US stock	$1.0	$10.0	$0.0
UK stock	$9.0	$12.0	$0.0
german stock	$5.0	$12.0	$0.0

The commissions are volume-tiered with a minimum fee.

XM stock commission

stock market	commission	minimum commission
USA	$0.04 per share	$1
UK	0.10%	$9
germany	0.10%	$5

Non-trading fees

XM has average non-trading fees. There is no account fee and XM charges no withdrawal fee in most cases, though bank withdrawals below $200 carry a $15 fee.

There is a $15 one-off maintenance fee after 1 year of inactivity, and this is followed by a $5 monthly fee if the account remains inactive.

So, let's see, what we have: XM review 2019 | is XM a scam or legit forex broker? Average broker rating rating breakdown XM overview XM is a cysec, ASIC and IFSC regulated, multi-asset class broker offering to trade at is xm legit